KL Kepong Bhd has proposed to acquire 995.5 acres land from The Bukit Darah Co Ltd.

The freehold land will be acquired via its wholly-owned subsidiary KL-Kepong Property Development Sdn Bhd for RM136.47mil.

KL Kepong said the proposed acquisition would give it a strategic land bank with good potential for property development.

The land is currently an oil palm estate known as the Bukit Darah Estate. It lies along Jalan Kuala Selangor and is in the vicinity of several on-going housing schemes and township developments.

KL Kepong said the land would enjoy better accessibility in the future when the Guthrie Corridor Expressway, currently under construction, was completed.

The move is in line with the group's strategy to improve the geographical profile of its land bank for property development and enhance its property development business.

Source: The Star